By Seun Timi-Koleolu and Ebikeniye Best DOWNLOAD PUBLICATION Introduction The financial sector in Nigeria is comprised of banks and other financial institutions. These entities are primarily regulated by the Central Bank of Nigeria (CBN) to ensure the security, stability and transparency of the financial system. To guide companies wishing to operate in the financial services […]
By Aderonke Alex-Adedipe and Sharon Okpo DOWNLOAD PUBLICATION INTRODUCTION The effect of digitization over the last decade has been widespread, and cuts across various aspects of daily life and by implication, the global economy. This has resulted in digital trade and e-commerce, which has greatly influenced and changed the concept of trade in many ways, […]
By Seun Timi-Koleolu and Hillary Okorotie DOWNLOAD PUBLICATION Introduction The Nigeria Securities and Exchange Commission (“SEC”) by a press release issued on August 29, 2024, announced that it has granted two Digital Asset Exchanges an “Approval in Principle” under the Accelerated Regulatory Incubation Program (“ARIP”). The framework for ARIP was introduced by SEC in June […]
By Aderonke Alex-Adedipe and Kofoworola Ayoola DOWNLOAD PUBLICATION Introduction The National Minimum Wage (Amendment) Act 2024 (the “Amendment Act”) represents a significant step in ensuring fair labor practices in Nigeria amidst the country’s soaring inflation and economic downturn. The Act, which came into effect on the 29th of July 2024, introduces an increase in the […]
By Aderonke Alex-Adedipe and Ebikeniye Best DOWNLOAD PUBLICATION Introduction Consumer Protection has long been a significant concern worldwide, with increased focus on ensuring that suppliers of goods and services embrace fair practices to safeguard consumer rights. To create a transparent, competitive and consumer-friendly market environment in Nigeria, the Federal Competition and Consumer Protection Act (the […]
By Seun Timi-Koleolu and Sharon Okpo DOWNLOAD PUBLICATION Meta Platforms Inc. and Whatsapp LLC. (together referred to as “Meta”) have come under the spotlight of the Federal Competition and Consumer Protection (FCCPC). An investigation was launched by the FCCPC into Meta’s practices relating to user data privacy and competition. This move underscores the growing global […]
By Aderonke Alex-Adedipe and Qasim Ogunjimi DOWNLOAD PUBLICATION Introduction The National Digital Economy and E-Governance Bill, 2024, (the “Bill”) represents a strategic move in Nigeria’s digital transformation journey. Primarily, the Bill aims to drive economic growth through digital technology, improve public service delivery, and create a competitive environment for the Nigerian digital economy. It also […]
By Seun Timi-Koleolu and Hillary Okorotie DOWNLOAD PUBLICATION Introduction To ensure companies operate efficiently in all sectors of the economy including the Tech and the Finance sectors, the employer-employee relationship must be properly managed. The employee and employer relationship in Nigeria is generally governed by contractual terms. There are also various laws and regulations that […]
By Seun Timi-Koleolu and Kofoworola Ayoola DOWNLOAD PUBLICATION Introduction Withholding Tax (WHT) is an advance payment of income tax that is deductible at source on specific transactions. In simple terms, where Party A and B enter a transaction for which payment is to be received and income tax is payable, Party B is required under […]
By Aderonke Alex-Adedipe and Hillary Okorotie DOWNLOAD PUBLICATION Introduction In an effort to improve foreign exchange liquidity in the country, the Central Bank of Nigeria (CBN), as the primary regulator of the Nigerian banking industry, has continuously introduced policies and issued circulars to financial institutions and foreign exchange operators. On January 31, 2024, the CBN […]